Gold, Silver Outlook June 13, 2016

13 June 2016

GOLD (XAUUSD)

XAU/USD shows a stout growth despite the rise of USD. The uptrend should end as the main driver for it was expectations that FOMC will refuse the change in interest rate and will drop a hint about a longer delay in monetary policy changes. Weekly chart admits further growth. However, if we take a look at the Hourly one, we may see a need in correction before the uptrend resumes.

Weekly chart shows an uptrend as the price is above MA55. There are almost no doubts that the price will continue its modest grow towards the broken trendline.

As for the Hourly chart we may see an uptrend as the price is above MA55. The MA-channel goes upwards. The speed of growth slows which may be a sign of a future correction. We recommend to wait until the price goes back to the MA55 to open long trades.

SILVER (XAGUSD)

Silver price stopped its growth unlike Gold price. However, there is a probability of the uptrend resumption. The price is back to MA55 and may continue its rise though there was a minor correction which may go on. Time will tell.

Weekly chart indicates the uptrend as the price is above MA55. Growth potential still exist, though the correction may take place.

As for the Hourly chart, we may see the uptrend here as well as the price is above MA55. The MA-channel goes upwards. The speed of trend slows indication the probability of a correction. We recommend waiting until the correction proves itself to be more precise.

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